Natural Gas: Storage

Energy and Climate Change written question – answered on 11th June 2014.

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Photo of Dan Byles Dan Byles Conservative, North Warwickshire

To ask the Secretary of State for Energy and Climate Change what recent assessment he has made of the potential need for additional gas storage capacity in the UK; and if he will make a statement.

Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills , Minister of State, Department of Energy and Climate Change, Minister of State for Portsmouth

The Department commissioned independent analysis by Redpoint Energy on the case for intervention in the UK gas storage market.

This cost-benefit analysis did not support intervention to deliver additional gas storage capacity within the UK due to a combination of low risk, poor rates of return for the taxpayer, and the risk of unintended consequences within the market. A written statement to Parliament on gas security of supply policy and gas storage was made by the Secretary of State on 4 September 2013.

The market continues to bring forward gas storage projects: two storage facilities have recently been completed and two more are currently under construction.

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